ZWJ Investment Counsel Inc. Sells 105,382 Shares of DXC Technology (NYSE:DXC)

ZWJ Investment Counsel Inc. cut its holdings in DXC Technology (NYSE:DXC) by 14.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 639,000 shares of the company’s stock after selling 105,382 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in DXC Technology were worth $14,614,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue lifted its stake in DXC Technology by 388.6% in the fourth quarter. State of Alaska Department of Revenue now owns 119,130 shares of the company’s stock worth $2,724,000 after acquiring an additional 94,748 shares during the period. Ameriprise Financial Inc. lifted its position in shares of DXC Technology by 0.3% during the third quarter. Ameriprise Financial Inc. now owns 2,992,875 shares of the company’s stock valued at $62,342,000 after buying an additional 8,235 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of DXC Technology by 9.9% during the third quarter. PNC Financial Services Group Inc. now owns 63,800 shares of the company’s stock valued at $1,329,000 after buying an additional 5,735 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of DXC Technology during the fourth quarter valued at about $2,216,000. Finally, SG Americas Securities LLC lifted its position in shares of DXC Technology by 165.1% during the fourth quarter. SG Americas Securities LLC now owns 82,550 shares of the company’s stock valued at $1,888,000 after buying an additional 51,409 shares during the last quarter. 96.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JPMorgan Chase & Co. lowered shares of DXC Technology from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $27.00 to $24.00 in a research report on Wednesday, January 24th. Royal Bank of Canada reissued a “sector perform” rating and set a $24.00 price target on shares of DXC Technology in a research report on Friday, February 2nd. Guggenheim assumed coverage on shares of DXC Technology in a research report on Tuesday, March 19th. They set a “neutral” rating and a $22.00 price target for the company. Finally, Citigroup lowered shares of DXC Technology from a “neutral” rating to a “sell” rating and decreased their price target for the company from $24.00 to $21.00 in a research report on Wednesday, January 17th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, DXC Technology presently has a consensus rating of “Hold” and an average target price of $23.20.

Insider Buying and Selling

In related news, EVP William L. Deckelman, Jr. sold 18,102 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $21.73, for a total value of $393,356.46. Following the transaction, the executive vice president now owns 124,806 shares in the company, valued at approximately $2,712,034.38. The sale was disclosed in a filing with the SEC, which is available through this link. 0.87% of the stock is owned by corporate insiders.

DXC Technology Stock Performance

Shares of DXC Technology stock traded up $0.56 during midday trading on Friday, hitting $20.14. The company had a trading volume of 1,308,213 shares, compared to its average volume of 2,487,641. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of -10.54, a PEG ratio of 1.77 and a beta of 1.85. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.15. The company has a fifty day simple moving average of $20.98 and a 200 day simple moving average of $21.92. DXC Technology has a 12-month low of $18.61 and a 12-month high of $28.89.

DXC Technology (NYSE:DXC) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.10. DXC Technology had a negative net margin of 3.35% and a positive return on equity of 19.00%. The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same quarter in the prior year, the company earned $0.95 EPS. DXC Technology’s quarterly revenue was down 4.7% on a year-over-year basis. As a group, analysts predict that DXC Technology will post 3.03 earnings per share for the current fiscal year.

DXC Technology Profile

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in the United States, the United Kingdom, rest of Europe, Australia, and internationally. It operates in two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS).